SAN DIEGO, Nov. 4, 2019 /PRNewswire/ -- Youngevity
International, Inc. (NASDAQ: YGYI), a multi-channel
lifestyle company operating in three distinct business segments
including a commercial coffee enterprise and its expanding
commercial hemp enterprise, announced today that is has closed the
acquisition of BeneYOU, LLC's assets with an effective date of
November 1, 2019.
Youngevity Founder and CEO, Steve
Wallach said, "We are proud to welcome the customers and
distributors of Jamberry, Avisae and M.Global into our organization
and we look forward to showcasing all of their exciting products to
Youngevity distributors and customers around the world." He
continued, "We anticipate the strong potential for cross marketing
and promotional opportunities as we expose our product portfolio to
the over 3 million customers and distributors within the database
of these exciting brands."
BeneYOU's flagship brand Jamberry has an extensive line of Nail
products with a core competency in social selling. Avisae focuses
on the gut health, and M.Global delivers hydration products.
"We've built BeneYOU on principles of integrity, hard work and
progressive thinking," said BeneYOU CEO Ryan Anderson. "The cultures of Youngevity and
BeneYOU are completely aligned and I expect to watch our customers
and associates thrive as they benefit from the significant
resources of Youngevity along with their strong executive
team."
Dave Briskie, President and CFO
of Youngevity, stated, "In terms of both top line revenue and the
size of the database this is our largest business acquisition to
date. I have had the pleasure of meeting several of the key sales
force leaders within BeneYOU and I believe that we are a better
company with this talent within our sales team." He continued,
"At the end of Q2 we had stated that to drive growth in the direct
selling segment we intended to ramp up our acquisition
model. This business combination places us firmly on that
path."
About Youngevity International, Inc.
Youngevity International, Inc.
( NASDAQ : YGYI ), is a multi-channel lifestyle
company operating in 3 distinct business segments including a
commercial coffee enterprise, a commercial hemp enterprise, and a
multi-vertical omni direct selling enterprise. The Company features
a multi-country selling network and has assembled a virtual Main
Street of products and services under one corporate entity, YGYI
offers products from the six top selling retail categories:
health/nutrition, home/family, food/beverage (including coffee),
spa/beauty, apparel/jewelry, as well as innovative services. For
investor information, please visit YGYI.com. Be sure to like us on
Facebook and follow us on Twitter.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions and includes statements
regarding the strong potential for cross marketing and promotional
opportunities, BeneYOU customers and associates thriving as they
benefit from the significant resources of Youngevity along with
their executive team, being a better company with the BeneYOU
talent within our sales team and plans to ramp up our acquisition
model. These forward-looking statements are based on
management's expectations and assumptions as of the date of this
press release and are subject to a number of risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, our ability to cross market our product
portfolio and expand promotional opportunities within the BeneYOU
database, the ability of BeneYOU customers and associates to
benefit from the resources of Youngevity and its executive team,
our ability to be a better company with the BeneYOU talent within
our sales team, our ability to successfully integrate the
assets of BeneYOU, LLC and complete other post-closing
deliverables, our ability to ramp up our acquisition model,
our ability to add additional products (whether developed
internally or through acquisitions, such as the BeneYOU acquisition
our ability to improve our profitability, expand our
liquidity, and strengthen our balance sheet, our ability to
continue to maintain compliance with the NASDAQ requirements, the
acceptance of the omni-direct approach by our customers, our
ability to expand our distribution, our ability to continue our
financial performance and the other factors discussed in our Annual
Report on Form 10-K for the year ended December 31, 2018 and our subsequent filings with
the SEC, including subsequent periodic reports on Forms 10-Q and
8-Kand the other factors discussed in our Annual Report on Form
10-K for the year ended December 31,
2018 and our subsequent filings with the SEC, including
subsequent periodic reports on Forms 10-Q and 8-K. The
information in this release is provided only as of the date of this
release, and we undertake no obligation to update any
forward-looking statements contained in this release on account of
new information, future events, or otherwise, except as required by
law
Contacts:
Youngevity International, Inc.
Dave Briskie
President and Chief Financial Officer
1 800 982 3189 X6500
Investor Relations
YGYI Investor Relations
800.504.8650
investors@ygyi.com
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SOURCE Youngevity International, Inc.